Construction cost worked out on weighted basis as property of ground and first floor were mainly sold

ITO Vs Aarya Realties Pvt. Ltd. (ITAT Ahmedabad)

ITAT Ahmedabad held that construction cost attributable to 5 offices out of total 11 offices should be worked out on weighted basis and not on average basis as the properties mainly of the ground floor and first floor were sold out. Such properties fetches higher value in terms of sale price and hence cost is also attributable on weighted basis.

Facts-

Assessee company was appointed as a developer and accordingly AO o

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